Regulatory Guidance

APY tolerance - August 20, 2018
Reg DD § 1030.3(f)(2) offers an APY tolerance of 0.05% above/below the APY as calculated per Appendix A, and the commentary states the tolerance is designed to accommodate inadvertent errors.  Based on this I have the following questions:...
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Branch relocation, publication notice - July 23, 2018
Has § 303.40 recently been amended to include newspaper publication for branch relocations. I do not recall this requirement.  I can’t tell you whether it’s new, but under 12 CFR 303, section 303.44, there is this: For applications to establish or relocate a branch, a notice as described in §303.7(c) shall be published once in a […]
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Reg CC Holds on U.S. Treasury Checks - June 5, 2018
Regulation can be almost as convoluted as Reg Z when it comes to sorting through the verbiage for an answer. In this discussion the correct combination of holds for a large U.S. Treasury check (over $5,000) is discussed. And the answer is replete with cross-references from one section of the regulation to another...
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CDD beneficial ownership - May 29, 2018
Who would the control person be if the legal entity customer is owned by an entity that is exempt from the CDD Rule such as a trust not created by a filing with the Secretary of State, a publicly traded company, an estate, etc.?...
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Beneficial ownership certification - May 29, 2018
If we have an existing customer (prior to new CDD Regulation), and they come in to change a signer on the account, are we required to obtain the Beneficial Ownership Certification?  We know we don't have to do a mass request for the Beneficial Ownership of existing accounts, but wondered what would actually trigger the certification...
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Reg CC 229.33(d) - April 30, 2018
I have a question concerning the change in Reg. CC of § 229.33(c) to the updated § 229.33(d).  The present § 229.33(c) language reads:...
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Liability for unauthorized transfers - April 23, 2018
This is good discussion of the fact that there is no statute of limitations on claims of unauthorized EFTs, and of the relationship between sections 1005.6 and 1005.11 of Regulation E.
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Email marketing, consent - April 16, 2018
We want to begin communicating events and marketing through email. Does the bank need a consent form from the customers who have given us their email address at account opening before sending an email?...
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CTR weirdness - February 26, 2018
Do we file a CTR on this and what branch would you recommend we report? A CTR generated in FCRM for an amount that was apparently two cash advances at banks in Texas.  It was done with is debit card though, making it show up.  We think the last time this happened—could have been a year and a half ago, we DID do a CTR...
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Reg CC case-by-case holds - February 12, 2018
If a customer has two checks in one deposit, and the teller wishes to place separate case by case holds, and she completes two hold forms, would she need to allow the $200 each time? I usually try to encourage the tellers to use one form, allowing a clear trail of total deposit and $200 availability.  I know the Reg says the customer is allowed $200 of total deposits, but my concern is a case by case hold form showing the teller held the full amount of one of the items...
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